Coinbase founder: Thoughts on the US election from an encryption perspective
Original title: Reflections on the election through a crypto lens
Original author: Brian Armstrong
Original translation: Luffy, Foresight News
I want to share some thoughts on the election from the perspective of cryptocurrency and Coinbase's mission to increase economic freedom (a dimension that is very political).
In any case, this election is a huge win for crypto.
1. Bernie Moreno, who supports crypto, defeated Sherrod Brown, which was key to Trump's victory in Ohio. Sherrod was one of the most anti-crypto senators.
2. Cryptocurrency has the full support of the winning presidential candidate Trump.
3. The national level completely denied Senator Warren and Gary Gensler's years of illegal attempts to stifle the crypto industry. They all deserve blame for the Democrats’ failure (Biden and Harris should take some blame for that, too).
4. The next Congress will be the most crypto-friendly Congress ever. StandWithCrypto voters turned out in large numbers to help elect pro-crypto candidates in nearly every district (the House of Representatives elected 257 pro-crypto candidates).
5. Washington, D.C. received a clear message that being against crypto is a good way to end a career because it goes against the will of voters who are unhappy with the current financial system and want a change.
Of course, there were many other factors in this election besides crypto. Musk probably played the biggest role (his acquisition of Twitter/X marked a turning point). There were many other factors, too many for me to go into here.
But I think the most important message we (American citizens) send to the government in this election is that we will not build a government that is getting bigger and more powerful, we will not over-regulate, we will not print a lot of money, we will not buy votes through free benefits, and we will drive up deficits. America will follow the path of economic freedom, which is the source of our strength, it is based on limited government, the rule of law, meritocracy, fiscal discipline, respect for free markets (not government) as the source of economic growth, and praise science, technology, and builders as the driving force of civilizational progress, etc.
This shouldn't be limited to one party. There are excellent pro-business and tech advocates on both sides of the aisle, and the crypto industry supports them. But that doesn't mean support should be 50/50, because they weren't equally supported in this election. I've received many angry calls from people on the left who are upset that our industry isn't supporting the Democrats. What they refuse to acknowledge is that more Republicans voted for FIT21 in the House (roughly 3 to 1), and that the legal battles and attacks against crypto have come mostly from a Democratic administration. A truly nonpartisan PAC would focus solely on a candidate's stance on crypto and economic freedom, not which party they belong to. If they're stuck in partisan thinking, they can't understand why it's not 50/50 or support their preferred party.
Regardless, I'm proud that the crypto community has taken a truly principled, nonpartisan approach, and I hope that after this election, we no longer see this imbalance. Crypto should have support from both sides, as should any important new technology or industry that drives American prosperity. We cannot tolerate politicians trying to illegally destroy our industry, or take away the rights of our customers.
Finally, from a policy perspective, crypto is here to stay and we will continue to work until we see sensible legislation passed to protect consumers and the industry from attack. We will see this industry reestablished in the US. Coinbase and a16z have provided additional funding to Fairshake, which has already used approximately $78 million in the 2026 midterm elections. StandWithCrypto currently has 1.9 million supporters and has set a development goal of reaching 4 million supporters by the 2026 midterm elections. They will also expand their efforts internationally as the industry needs to see similar rules in the G20 or the wider world. Only through global adoption can crypto revolutionize the global financial system and increase economic freedom.
I am very proud of the progress the crypto community has made. Now let's pass some sensible legislation in the US and start building again!
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